GUARDIAN CAPITAL LP

TORONTO, A6 · CIK 1224324 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 1998 · limited partnership

Assets managed$10.7bn
Staff90 · 38 in investment roles
Main clients (by assets)Private funds 62%, State and local governments 13%, Pension plans 10%
Main officeToronto, Ontario
Websiteguardiancapitalfunds.com
Form ADV · 2026-09-09SEC adviser record

Legal entityGUARDIAN CAPITAL LP (CA)
Part of Guardian Capital Group Limited (CA)

Other 13F filers in this group: Guardian Partners Inc. $1.1bn, RAELIPSKIE PARTNERSHIP $264.8m

Kindprivate equity, institutions, wealth, bank or insurer
Others nearbyToronto, Salt Lake City, UT, Richmond, VA, Kitchener, London, Montréal
FamilyFederation des caisses Desjardins du Quebec · 14 related pages · largest: Federation des caisses Desjardins du Quebec

$4.1bn reported value +8.7% vs Q1 2026

159positions

36.6%in top 10

6 new 72 added 71 reduced 7 sold out vs Q1 2026

Options: 0 call positions (— notional), 15 put positions ($2.9m notional) – listed below, not included above.

This report includes the holdings of 2 other managers that share the investment decisions:

Sterling Capital Management LLC – files its own report too; $231.4m of shares are in both
Guardian Partners Inc. – files its own report too; $10.1m of shares are in both

Also in the report of:

GUARDCAP ASSET MANAGEMENT Ltd – $145.6m of shares are in both reports

Shares in two reports are counted once in each security's totals.

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	ROYAL BK CDA COM RY	RY	1,596,304	$330.4m8.04%	8.04%	Reduced -110.8k	-110,806 -6.5%
2	CANADIAN NAT RES LTD COM CNQ	CNQ	3,909,304	$154.6m3.76%	3.76%	Added +455.8k	+455,783 13.2%
3	TORONTO DOMINION BK ONT COM NEW TD	TD	1,237,833	$150.5m3.66%	3.66%	Reduced -63.9k	-63,904 -4.9%
4	CGI INC CL A SUB VTG GIB	GIB	2,201,421	$142.2m3.46%	3.46%	Added +778.8k	+778,828 54.8%
5	BROOKFIELD CORP CL A LTD VT SH BN	BN	3,333,406	$142.2m3.46%	3.46%	Added +581.6k	+581,599 21.1%
6	AGNICO EAGLE MINES LTD COM AEM	AEM	880,414	$136.7m3.33%	3.33%	Added +61.6k	+61,644 7.5%
7	SUNCOR ENERGY INC NEW COM SU	SU	2,276,146	$122.4m2.98%	2.98%	Added +484.9k	+484,879 27.1%
8	OPEN TEXT CORP COM OTEX	OTEX	5,097,794	$112.8m2.74%	2.74%	Added +527.1k	+527,122 11.5%
9	BANK MONTREAL QUE COM BMO	BMO	614,927	$108.6m2.64%	2.64%	Reduced -65.7k	-65,746 -9.7%
10	CANADIAN PACIFIC KANSAS CITY COM CP	CP	1,181,757	$102.4m2.49%	2.49%	Reduced -41.2k	-41,153 -3.4%
11	BOYD GROUP SERVICES INC COM BGSI	BGSI	1,077,236	$102.0m2.48%	2.48%	Added +460.6k	+460,595 74.7%
12	APPLE INC COM AAPL	AAPL	349,387	$101.1m2.46%	2.46%	Added +14.7k	+14,699 4.4%
13	CANADIAN IMPERIAL BANK OF CO COM CM	CM	786,905	$90.6m2.20%	2.20%	Reduced -36.2k	-36,210 -4.4%
14	BROADCOM INC COM AVGO	AVGO	237,790	$89.8m2.18%	2.18%	Added +12.9k	+12,852 5.7%
15	ASML HOLDING N V N Y REGISTRY SHS ASML	ASML	40,414	$80.4m1.96%	1.96%	Added +2.3k	+2,291 6.0%
16	MDA SPACE LTD COM MDA	MDA	1,906,121	$78.6m1.91%	1.91%	Reduced -1.7m	-1,651,613 -46.4%
17	ALPHABET INC CAP STK CL A GOOGL	GOOGL	207,482	$74.1m1.80%	1.80%	Added +9.4k	+9,418 4.8%
18	MICROSOFT CORP COM MSFT	MSFT	192,668	$71.9m1.75%	1.75%	Added +17.1k	+17,145 9.8%
19	RESTAURANT BRANDS INTL INC COM QSR	QSR	942,679	$68.4m1.66%	1.66%	Reduced -36.8k	-36,847 -3.8%
20	GILDAN ACTIVEWEAR INC COM GIL	GIL	1,311,862	$67.6m1.64%	1.64%	Added +112.8k	+112,825 9.4%
21	WILLIAMS COS INC COM WMB	WMB	882,109	$65.6m1.59%	1.59%	Added +51.6k	+51,577 6.2%
22	ENBRIDGE INC COM ENB	ENB	1,158,110	$62.8m1.53%	1.53%	Reduced -82.8k	-82,789 -6.7%
23	COSTCO WHSL CORP NEW COM COST	COST	66,758	$62.5m1.52%	1.52%	Added +1.9k	+1,902 2.9%
24	SHOPIFY INC CL A SUB VTG SHS SHOP	SHOP	534,485	$61.1m1.49%	1.49%	Added +10.6k	+10,648 2.0%
25	MANULIFE FINL CORP COM MFC	MFC	1,380,780	$56.0m1.36%	1.36%	Reduced -84.7k	-84,696 -5.8%
26	CANADIAN NATL RY CO COM CNI	CNI	422,207	$50.4m1.22%	1.22%	Added +798	+798 0.2%
27	TOTALENERGIES SE ACT TTE	TTE	564,830	$43.9m1.07%	1.07%	Added +13.7k	+13,693 2.5%
28	BANK NOVA SCOTIA HALIFAX COM BNS	BNS	483,249	$41.9m1.02%	1.02%	Reduced -9.8k	-9,832 -2.0%
29	FORTIS INC COM FTS	FTS	728,917	$41.7m1.02%	1.02%	Reduced -16.0k	-15,960 -2.1%
30	SUN LIFE FINANCIAL INC. COM SLF	SLF	521,234	$40.9m0.99%	0.99%	Added +51.0k	+51,023 10.8%
31	JOHNSON & JOHNSON COM JNJ	JNJ	157,659	$40.0m0.97%	0.97%	Reduced -699	-699 -0.4%
32	NVIDIA CORPORATION COM NVDA	NVDA	196,760	$39.4m0.96%	0.96%	Added +84.3k	+84,322 75.0%
33	WHEATON PRECIOUS METALS CORP COM WPM	WPM	337,081	$37.9m0.92%	0.92%	Reduced -2.5k	-2,487 -0.7%
34	MCDONALDS CORP COM MCD	MCD	138,896	$37.5m0.91%	0.91%	Added +3.0k	+3,010 2.2%
35	EQUINIX INC COM EQIX	EQIX	34,813	$36.3m0.88%	0.88%	Added +1.9k	+1,852 5.6%
36	ASTRAZENECA PLC ORD AZN	AZN	177,185	$33.6m0.82%	0.82%	Added +6.9k	+6,933 4.1%
37	BARRICK MNG CORP COM SHS B	B	896,178	$32.9m0.80%	0.80%	Added +44.9k	+44,884 5.3%
38	META PLATFORMS INC CL A META	META	55,165	$31.1m0.76%	0.76%	Added +2.2k	+2,188 4.1%
39	TECK RESOURCES LTD CL B TECK	TECK	517,290	$30.8m0.75%	0.75%	Reduced -314.3k	-314,308 -37.8%
40	MASTERCARD INCORPORATED CL A MA	MA	59,129	$30.4m0.74%	0.74%	Reduced -242	-242 -0.4%
41	PARKER-HANNIFIN CORP COM PH	PH	30,371	$29.7m0.72%	0.72%	Added +7.7k	+7,651 33.7%
42	REPUBLIC SVCS INC COM RSG	RSG	138,447	$29.5m0.72%	0.72%	Added +6.5k	+6,465 4.9%
43	TJX COS INC NEW COM TJX	TJX	192,058	$29.1m0.71%	0.71%	Added +9.7k	+9,679 5.3%
44	SHELL PLC SPON ADS SHEL	SHEL	357,942	$27.8m0.68%	0.68%	Added +20.9k	+20,875 6.2%
45	ABBVIE INC COM ABBV	ABBV	105,866	$26.6m0.65%	0.65%	Added +7.3k	+7,306 7.4%
46	HARTFORD INSURANCE GROUP INC COM HIG	HIG	198,454	$26.3m0.64%	0.64%	Added +9.6k	+9,619 5.1%
47	ROGERS COMMUNICATIONS INC CL B RCI	RCI	790,127	$25.7m0.62%	0.62%	Added +52.3k	+52,307 7.1%
48	BROOKFIELD INFRAST PARTNERS LP INT UNIT BIP	BIP	699,776	$25.5m0.62%	0.62%	Reduced -5.6k	-5,584 -0.8%
49	STANTEC INC COM STN	STN	366,195	$25.3m0.61%	0.61%	Reduced -194	-194 -0.1%
50	WASTE MGMT INC DEL COM WM	WM	110,620	$24.7m0.60%	0.60%	Added +5.2k	+5,232 5.0%
51	NUTRIEN LTD COM NTR	NTR	384,134	$24.2m0.59%	0.59%	Added +86.2k	+86,185 28.9%
52	AMPHENOL CORP CL A APH	APH	136,776	$24.1m0.59%	0.59%	Added +7.0k	+7,029 5.4%
53	BROOKFIELD ASSET MANAGMT LTD CL A LMT VTG SHS BAM	BAM	512,297	$23.0m0.56%	0.56%	Added +153.7k	+153,651 42.8%
54	HOME DEPOT INC COM HD	HD	60,269	$21.3m0.52%	0.52%	Added +1.9k	+1,862 3.2%
55	GRAINGER W W INC COM GWW	GWW	15,437	$21.0m0.51%	0.51%	Added +2.4k	+2,397 18.4%
56	ELI LILLY & CO COM LLY	LLY	16,901	$20.3m0.49%	0.49%	Added +921	+921 5.8%
57	PEMBINA PIPELINE CORP COM PBA	PBA	436,901	$20.2m0.49%	0.49%	Reduced -9.0k	-8,958 -2.0%
58	TC ENERGY CORP COM TRP	TRP	280,149	$18.5m0.45%	0.45%	Reduced -2.7k	-2,703 -1.0%
59	DARDEN RESTAURANTS INC COM DRI	DRI	84,820	$17.5m0.42%	0.42%	Added +3.9k	+3,945 4.9%
60	WEC ENERGY GROUP INC COM WEC	WEC	146,617	$17.1m0.42%	0.42%	Added +9.3k	+9,278 6.8%
61	AMAZON COM INC COM AMZN	AMZN	71,324	$17.0m0.41%	0.41%	Reduced -446	-446 -0.6%
62	ORACLE CORP COM ORCL	ORCL	114,834	$16.8m0.41%	0.41%	Added +6.6k	+6,566 6.1%
63	ICICI BANK LIMITED ADR IBN	IBN	550,067	$16.0m0.39%	0.39%	Added +24.7k	+24,743 4.7%
64	VISTRA CORP COM VST	VST	94,527	$15.0m0.36%	0.36%	Added +21.9k	+21,939 30.2%
65	JPMORGAN CHASE & CO COM JPM	JPM	42,546	$13.9m0.34%	0.34%	Added +380	+380 0.9%
66	ILLINOIS TOOL WKS INC COM ITW	ITW	46,055	$12.5m0.30%	0.30%	Added +1.6k	+1,603 3.6%
67	AIR PRODS & CHEMS INC COM APD	APD	42,383	$12.4m0.30%	0.30%	Added +1.6k	+1,582 3.9%
68	AMGEN INC COM AMGN	AMGN	33,791	$12.2m0.30%	0.30%	Added +1.5k	+1,492 4.6%
69	WASTE CONNECTIONS INC COM WCN	WCN	71,344	$11.9m0.29%	0.29%	Added +66.2k	+66,238 1297.3%
70	BROOKFIELD INFRASTRUCTURE CO COM SUB VTG A BIPC	BIPC	300,687	$11.6m0.28%	0.28%	Reduced -87	-87 -0.0%
71	PROCTER AND GAMBLE CO COM PG	PG	75,010	$11.0m0.27%	0.27%	Added +3.2k	+3,200 4.5%
72	HUDBAY MINERALS INC COM HBM	HBM	452,109	$10.7m0.26%	0.26%	Reduced -1.7k	-1,655 -0.4%
73	UNILEVER PLC SPON ADR NEW UL	UL	151,981	$9.1m0.22%	0.22%	Added +6.9k	+6,935 4.8%
74	DESCARTES SYS GROUP INC COM DSGX	DSGX	127,360	$8.8m0.21%	0.21%	Reduced -63.5k	-63,517 -33.3%
75	VERTIV HOLDINGS CO COM CL A VRT	VRT	24,839	$8.3m0.20%	0.20%	Reduced -195	-195 -0.8%
76	UNITEDHEALTH GROUP INC COM UNH	UNH	19,985	$8.3m0.20%	0.20%	Added +663	+663 3.4%
77	BOOKING HOLDINGS INC COM BKNG	BKNG	43,672	$7.8m0.19%	0.19%	Reduced -1.9k	-1,878 -4.1%
78	ALPHABET INC CAP STK CL C GOOG	GOOG	19,586	$6.9m0.17%	0.17%	Added +28	+28 0.1%
79	LAM RESEARCH CORP COM NEW LRCX	LRCX	15,311	$6.6m0.16%	0.16%	Reduced -9.3k	-9,282 -37.7%
80	AFLAC INC COM AFL	AFL	54,389	$6.4m0.16%	0.16%	Reduced -6.5k	-6,501 -10.7%
81	VISA INC COM CL A V	V	18,370	$6.3m0.15%	0.15%	Reduced -1	-1 -0.0%
82	CENOVUS ENERGY INC COM CVE	CVE	239,597	$5.9m0.14%	0.14%	Unchanged
83	OSHKOSH CORP COM OSK	OSK	37,227	$5.7m0.14%	0.14%	Unchanged
84	ANALOG DEVICES INC COM ADI	ADI	14,346	$5.7m0.14%	0.14%	Added +1.1k	+1,061 8.0%
85	SANOFI SPONSORED ADR SNY	SNY	132,378	$5.6m0.14%	0.14%	Added +7.1k	+7,101 5.7%
86	TELESAT CORP CL A & CL B SHS TSAT	TSAT	107,029	$5.4m0.13%	0.13%	New
87	ADVANCED MICRO DEVICES INC COM AMD	AMD	9,181	$5.3m0.13%	0.13%	New
88	PALO ALTO NETWORKS INC COM PANW	PANW	15,321	$5.2m0.13%	0.13%	Reduced -5.8k	-5,758 -27.3%
89	CME GROUP INC COM CME	CME	23,200	$5.1m0.12%	0.12%	Reduced -4.0k	-4,000 -14.7%
90	MONOLITHIC PWR SYS INC COM MPWR	MPWR	3,667	$5.1m0.12%	0.12%	Added +52	+52 1.4%
91	CADENCE DESIGN SYSTEM INC COM CDNS	CDNS	13,020	$4.9m0.12%	0.12%	Added +11	+11 0.1%
92	EMERSON ELEC CO COM EMR	EMR	33,063	$4.7m0.12%	0.12%	Reduced -6.3k	-6,297 -16.0%
93	INTUITIVE SURGICAL INC COM NEW ISRG	ISRG	11,576	$4.6m0.11%	0.11%	Reduced -156	-156 -1.3%
94	APPLIED MATLS INC COM AMAT	AMAT	6,125	$4.4m0.11%	0.11%	Reduced -2.6k	-2,600 -29.8%
95	CHUBB LIMITED COM CB	CB	12,996	$4.4m0.11%	0.11%	Added +86	+86 0.7%
96	YUM CHINA HLDGS INC COM YUMC	YUMC	102,100	$4.2m0.10%	0.10%	Reduced -22.5k	-22,515 -18.1%
97	GREENBRIER COS INC COM GBX	GBX	79,339	$3.9m0.09%	0.09%	Added +40.0k	+40,000 101.7%
98	SHERWIN WILLIAMS CO COM SHW	SHW	11,242	$3.9m0.09%	0.09%	Reduced -24	-24 -0.2%
99	BANCO SANTANDER S.A. ADR SAN	SAN	273,035	$3.8m0.09%	0.09%	Reduced -1.6k	-1,601 -0.6%
100	ILLUMINA INC COM ILMN	ILMN	21,400	$3.8m0.09%	0.09%	Reduced -4.8k	-4,800 -18.3%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
GRANITE REAL ESTATE INVT TR GRTUF	GRTUF	268,462	$15.7m268.5k shares
MOTOROLA SOLUTIONS INC MSI	MSI	31,945	$13.9m31.9k shares
CRH PLC CRH	CRH	7,408	$778.7k7.4k shares
THOMSON REUTERS CORP		2,941	$264.7k2.9k shares
PEPSICO INC PEP	PEP	1,595	$247.7k1.6k shares
BCE INC BCE	BCE	9,039	$227.3k9.0k shares
PATTERSON-UTI ENERGY INC PTEN	PTEN	13,922	$150.8k13.9k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
CME GROUP INC CME · Put	CME	Put	8,700	$445.7k8.7k shares	Unchanged
YUM CHINA HLDGS INC YUMC · Put	YUMC	Put	37,200	$384.2k37.2k shares	Unchanged
ILLUMINA INC ILMN · Put	ILMN	Put	8,000	$307.1k8.0k shares	Unchanged
NIKE INC NKE · Put	NKE	Put	15,700	$282.5k15.7k shares	Unchanged
BOOKING HOLDINGS INC Put		Put	7,500	$239.3k7.5k shares	Added
ADOBE INC ADBE · Put	ADBE	Put	2,900	$227.4k2.9k shares	Unchanged
MICROSOFT CORP MSFT · Put	MSFT	Put	2,800	$209.9k2.8k shares	Unchanged
MASTERCARD INCORPORATED MA · Put	MA	Put	2,800	$196.7k2.8k shares	Unchanged
UNITEDHEALTH GROUP INC UNH · Put	UNH	Put	4,100	$194.3k4.1k shares	Unchanged
VERISK ANALYTICS INC VRSK · Put	VRSK	Put	4,400	$130.9k4.4k shares	Unchanged
MARKETAXESS HLDGS INC MKTX · Put	MKTX	Put	5,600	$121.4k5.6k shares	Unchanged
ACCENTURE PLC IRELAND ACN · Put	ACN	Put	3,300	$100.4k3.3k shares	Unchanged
AUTOMATIC DATA PROCESSING IN ADP · Put	ADP	Put	2,800	$64.3k2.8k shares	Unchanged
COLGATE PALMOLIVE CO CL · Put	CL	Put	14,700	$27.2k14.7k shares	Unchanged
APPLE INC AAPL · Put	AAPL	Put	600	$16.6k600 shares	Unchanged